Model Validation Manager in London

Aldermore Group – why we exist  

Let us tell you a bit about us

We’re Aldermore – the award-winning bank, trusted and highly rated by over a quarter of a million customers for more than a decade. With our range of specialist mortgages, savings accounts and business finance solutions, we're backing more people to go for it.

We thrive by saying “yes” to our customers. We respect the ingenuity of entrepreneurs and their startups; we give first-timers a leg-up onto the property ladder; we open up the lending market to many; and thousands of customers chose Motonovo Finance every week to buy their next car, van or motorbike.

This is where you come in. We are on a journey. A journey defined by a destination; to deliver on our purpose.

Let us tell you a bit about the opportunity

Model Risk Management (MRM) team is responsible for end-to-end model risk management across the Group. The team assesses and helps mitigate model risk of complex models used in the context of risk measurement, valuation, capital and provisions calculation, and more broadly for decision-making purposes. MRM partners with Risk and Finance professionals and works closely with model developers and users. Team members have opportunities for exposure to a variety of business and functional areas. 

To act as an ambassador of the Bank’s vision to; Back more people to go for it in life and in business.

What will your day look like?

Reporting to the Head of Model Validation (MV), who will be your line manager and responsible for things like performance review meetings, 1-1s and development conversations, you will be responsible for:

• Supporting the Head of MV in prioritising and scheduling validation activities to ensure all models remain fit for purpose in accordance with Aldermore Banking Group’s MRM Policy and Standards documents.
• Managing independent reviews across the model lifecycle including new developments, model changes, periodic validations, ongoing monitoring and implementation in respect to their design, calibration, validation, operation, usage, reporting, and governance.
• Leading re-performance independent validation for material models including partial or complete recoding, development or building of challenger models, data profiling, model and variable selection, back-testing, stress testing.
• Documenting validation findings, providing insight and evaluation of weaknesses and making recommendations for improvements.
• Presenting independent reviews to Model Governance Committee or Model Technical Forum.
• Carrying out model risk management tasks with a view to the auditability of model assurance.
• Researching statistical techniques to estimate model parameters, including volatilities of risk factors and their correlations, and to validate use of appropriate proxies and fall-back parameters.
• Benchmarking model components such as parameter estimation methods or pricing models to justify against alternative approaches.

What do we expect from you?

• Experience in modelling and/or validation for corporate, retail, wholesale banking portfolios with a financial services organization, consulting firm, or analytic solutions provider.
• Ability to utilise experience and knowledge to make sound model judgements, taking into account model performance, regulation and wider considerations such as complexity vs benefit, short vs long term trade-offs, and resource prioritisation.
• Hands-on experience in technical model development and implementation, model validation, and/or model oversight in one or more of the following areas: credit risk (retail and/or wholesale), PD/LGD/EAD estimations, IFRS9, operational risk, asset & liability management, Economic Capital, stress testing, sensitivities, time series modelling.
• Knowledge of relevant risk topics, including relevant regulations from PRA and ECB.
• Proficiency is SAS & Excel. Knowledge of other standard analytics softwares like R, Python, SAS Viya etc would be desirable.

What can you expect from us?

• A friendly and flexible culture, the same as how we work with our customers.
• A growing organisation that means there’s lots of opportunities to progress
• A drive for continuous improvement, which you will be empowered to get behind from day one.
• And of course, you will be rewarded competitively, with a good range of core benefits and bonus potential. 

Still curious?

Join us and we’ll make the same promises to you as a colleague, as we do to each of our customers. We’re committed to building a working environment that values respect, diversity, and compassion. We welcome people regardless of age, disability, gender identity, marital status, race, faith or belief, sexual orientation, socioeconomic background, and whether you’re pregnant or on family leave.

Please note that we have a thorough referencing process, which includes criminal record checks.